Industrywide Price Increases; The Facts
As the year ended, the United States surpassed 20 million infections from SARS-CoV-2, and more than 346,000 deaths. Globally, cases rose to 83,832,334 and 1,824,590 deaths. Here are the fact behind the Industrywide Price Increases
In March/April of 2020 most of the World was shut down. Stay at home orders were issued and only essential businesses could stay operational. What does this mean to you?
Fortunately Lodi Garage Doors and More was among the few that were considered essential and able to keep our doors “open”. That being said our manufacturers of garage doors and garage door openers were NOT considered essential and were forced to close or run at limited capacity. Most of the larger garage door companies in the valley had enough inventory to get through most or part of the pandemic shut down.
However, once we had run through our inventory this put a HUGE strain on the manufactures. After that, The ENTIRE UNITED STATES OF AMERICA was now in need of inventory. Orders flooding the manufactures that were either still closed or working at a limited capacity. For example, LiftMaster in Nogales normal operation volume of 30,000 employees was now at 3,000 employees.
Because every single industry is now in need of inventory this has put an extremely large demand on steel. If you remember your economics courses in high school what happens when there is a high demand on a product? Prices go up! We are now seeing an influx of price increases across the board some as high as 36%.
What to expect? Longer lead times and higher prices. How long will this last…No ones knows.
To all of our customer, we would like to extend a huge THANK YOU and Appreciation for your loyalty and patients through these trying times!!